Rite Aid Portfolio of 5
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LTV (Loan to Value) | 65.00% | Current NOI | $1,310,985.00 |
Interest Rate | 4.250% | Capital Rate | 7.500% |
Fixed Term | 10 Years | Land Area | 7.97 Acres |
Amortization | 25 Years | Lease Type | NNN |
Loan Amount | $11,361,870.00 | Property Type | Retail |
Payment | $61,551.58 | Property Lease | Drug Store |
Bulding Size | 57,141 SF | Remaining Terms | 5.5 Years (on each lease) |
Location Description
NNN Lenders is pleased to offer for sale to qualified investors, the opportunity to acquire the ownership interest in five Rite Aid Pharmacy retail properties located across the U.S. The Portfolio comprises 57,141 SF of retail space and features strong demographics that averages a population base of roughly 133,200 and average household income in excess of $66,600 within five miles. Each lease is 100% guaranteed by Rite Aid Corporation and has approximately 5.5 years of base lease term remaining on 22-year base leases that all began in December 1998.
Highlights
100% Leased to Rite Aid Corp. (NYSE: RAD) - Rite Aid Corp is the largest drugstore chain on the East…
Property Description
The Portfolio is a rare geographically diverse opportunity with properties that capitalize on Rite Aid's brand recognition and footprint along the East Coast and in the Midwest. Each of the five Properties are located near key transportation arterials and are in close proximity to major markets, and are supported by excellent demographics.